- Category: Economic
- Published Monday, December 21, 2015
- CTV News
ST. JOHN'S, N.L. - The Newfoundland and Labrador government has hired a consulting firm to conduct an independent review of the Muskrat Falls hydroelectric project.
Premier Dwight Ball says the report from Ernst and Young will focus on the project's cost, schedule and risks.
The premier says a final report is expected in March and it will not consider whether the project should be cancelled.
In September, the province learned that the project's cost had grown by almost 10 per cent to a total of $7.65 billion since June 2014.
Nalcor Energy also said at the time that the date for generating power from the project in Labrador had been delayed until 2018.
Muskrat Falls was originally supposed to start generating electricity late in 2017 and it was previously expected to cost $6.99 billion.